Retail real estate investment trusts (REITs) own, operate, or finance income-generating retail properties, including shopping centers, malls, strip malls, and other retail spaces, and generate revenue by leasing space to retail businesses.
As is the case with all REITs, retail REITs are required to distribute a significant portion of their income to shareholders in the form of dividends, making them a popular choice for investors seeking income.
If you're interested in buying a retail REIT with a high yield, here are two you should consider today.
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Federal Realty Investment Trust
Federal Realty Investment Trust FRT owns and manages a portfolio of mixed-use properties and open and shopping centers in top suburban markets, including Boston, Chicago, Miami, New York City, Philadelphia, Phoenix, Silicon Valley, and Washington, D.C.
Federal Realty currently pays a quarterly dividend of $1.09 per share, equating to an annualized dividend of $4.36 per share and giving its stock a yield of about 4.3% at the time of this writing. Federal Realty has also increased its quarterly dividend for 56 consecutive years, the longest record in the REIT industry, according to the company.
Its track record of dividend growth and high yield make Federal Realty one of the most attractive dividend stocks in the stock market today.
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Kite Realty Group Trust
Kite Realty Group Trust KRG owns or has ownership interests in 180 open-air shopping centers and mixed-use assets containing approximately 28 million square feet of gross leasable space. Its portfolio is predominantly situated across major markets in the Sun Belt region, including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Miami, Orlando, Phoenix, and San Antonio.
Kite currently pays a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 per share and giving its stock a yield of about 4.7% at the time of this writing. The company has also raised its annual dividend payment each of the last three years, and its hike in October 2023 has it on pace for 2024 to mark the fourth consecutive year with an increase.
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- Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Dara Khosrowshahi gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.
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